OTTAWA, ON, June 23, 2021 /CNW/ - Today, Hydro Ottawa Holding Inc. released its 2020 Annual Report, showcasing the company's strong performance in adapting its operations, maintaining a reliable supply of power, and keeping employees and the community safe amidst the challenges of a global pandemic.
Board Chair, Jim Durrell, C.M., ICD.D, and President and Chief Executive Officer, Bryce Conrad, presented the company's 2020 results during the Annual General Meeting today with Ottawa City Council.
Overall, Hydro Ottawa's core mandate remains the same: to provide a safe, reliable, affordable, and renewable supply of electricity to approximately 346,000 homes and businesses that rely upon it every day; and to ensure a more sustainable energy future for its community.
Quick Facts
- Hydro Ottawa's 2020 consolidated net income was $34.1 million.
- In accordance with the City Council-approved dividend policy, Hydro Ottawa's dividend payment to the City will be $20.8 million this year, which will be used by the City to fund municipal programs and services.
- Hydro Ottawa ranked third for operational efficiencies (lowest costs per customer) among large distributors in Ontario.
- Hydro Ottawa maintained strong reliability throughout 2020 by leveraging technology and automation to ensure quick power restoration and minimal customer impact. On average, Hydro Ottawa customers had power 99.981% of the time in 2020.
- During the COVID-19 pandemic, Hydro Ottawa supported customers by offering flexible payment plans, advocating for provincial COVID-19 electricity rates and relief programs, and responding to the need for working and learning at home by limiting our planned power outages to critical situations only.
- Hydro Ottawa achieved a 96% overall customer satisfaction score, which is the highest level in the past decade. With 54% of customers going paperless, Hydro Ottawa has also maintained the highest e-billing participation rate among Ontario distribution utilities, saving $2.1M per year.
- Through its renewable energy subsidiary, Portage Power, the company completed one of two refurbishments of its hydroelectric stations in Québec in February 2020. The other station's return to service was delayed by the pandemic, with operations resuming in May 2021. Together, these refurbishment projects represent the latest milestone in the company's five-fold expansion of its green power portfolio since 2012.
- Envari, the company's energy and utility services business, achieved critical planning and design milestones in its four-year, $57.2 million cogeneration system upgrade at Ottawa's wastewater collection and treatment plant. The groundwork was also laid for a recently-announced collaboration with the City of Ottawa on electric bus deployment. To meet the demands of a future energy sector, Envari will be announcing a refresh of its brand and strategy in order to sharpen its methodology and better support its customers in their long-term energy management and infrastructure decisions.
- In October 2020, Hydro Ottawa, in partnership with Zibi Canada and Kruger Products, began construction on the district energy cooling and heating system that will provide zero-carbon power for all Zibi tenants and residents at its 34-acre waterfront community in downtown Ottawa and Gatineau. It is scheduled to come online in 2021.
- Hydro Ottawa's employee-driven charitable campaign raised more than $130,000 for the United Way of Eastern Ontario. The company also continued to be a responsible and engaged corporate citizen by donating personal protective equipment to local frontline healthcare workers, and sponsoring initiatives to combat mental health issues, homelessness, and violence against women through our Community Investment Program.
Quotes
"Without question, 2020 represented the most challenging year in recent memory for both Hydro Ottawa and the community we serve. Our response to the pandemic has been shaped by the high premium we have always placed on safety. At heart, we're a community company, and being there for our employees and customers has been, and remains, our first and foremost priority."
- Jim Durrell, C.M., ICD.D, Chair, Board of Directors
"At Hydro Ottawa, it's in our nature to anticipate crises and disruptions to our business. Throughout the challenges of the past year, our employees have risen to the occasion and exhibited the best of the company's character, culture, and commitment to the community. We could not be prouder of their professionalism, resilience, dedication, and generosity. Our success is because of them."
- Bryce Conrad, President and Chief Executive Officer
About Hydro Ottawa Holding Inc.
Hydro Ottawa Holding Inc. (Hydro Ottawa) is a private company 100 percent owned by the City of Ottawa and whose core businesses are electricity distribution, renewable energy generation, and energy and utility services. Hydro Ottawa owns and operates three primary subsidiary companies: Hydro Ottawa Limited – delivering electricity to more than 346,000 customers in the City of Ottawa and the Village of Casselman; Portage Power – the largest Ontario-based municipally-owned producer of green power that has over 128 megawatts of installed green generation capacity – enough to power 107,000 homes; and Envari – an energy solutions company offering products and services that help reduce energy consumption and costs for municipalities, industrial and commercial clients, and various local distribution companies.
SOURCE Hydro Ottawa Holding Inc.
Josée Larocque, Manager, Media and Public Affairs, Hydro Ottawa, Tel: 613-738-5499 ext. 2345, [email protected], www.hydroottawa.com
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